Vocabulary:
Manufacturing: to make something on a large scale.
Supply- chaining: method of collaborating among suppliers, retailers, and customers to create value.
Global optimization: branch of applied mathematics and numerical analysis that deals with the optimization of a company.
Innovation: new method, idea, or product. Summary:
This flattener is about supply chaining. Supply chaining is getting together with people to get a good product and to make the business as successful as it can be. They sue Wal- Mart as an example. They say how they are always trying to get feedback from various people and trying to put all of those ideas into one organized plance and then put the improvements into action. This is imperative to our society because it makes the companies more competitive and more marketable. Current Event:
Wal- Mart is looking to improve their supply chaining. They are doing this by having a "zero tolerance" policy. If someone makes a mistake they will give them so long to correct the mistake. If that person doesn't fix it they will be fired. Also, if Wal- Mart's suppliers have a problem they are to come talk to them instead of going through a third party. This will improve Wal- Mart's efficiency and also better their communication in bettering their company. Our Response:
We think that this is a good thing. It protects the company's value and also gets rid of the people who don't want to work and make the company better. It will also better communication skills which is imperative to the operation of any business.
Vocabulary:
Manufacturing: to make something on a large scale.
Supply- chaining: method of collaborating among suppliers, retailers, and customers to create value.
Global optimization: branch of applied mathematics and numerical analysis that deals with the optimization of a company.
Innovation: new method, idea, or product.
Summary:
This flattener is about supply chaining. Supply chaining is getting together with people to get a good product and to make the business as successful as it can be. They sue Wal- Mart as an example. They say how they are always trying to get feedback from various people and trying to put all of those ideas into one organized plance and then put the improvements into action. This is imperative to our society because it makes the companies more competitive and more marketable.
Current Event:
Wal- Mart is looking to improve their supply chaining. They are doing this by having a "zero tolerance" policy. If someone makes a mistake they will give them so long to correct the mistake. If that person doesn't fix it they will be fired. Also, if Wal- Mart's suppliers have a problem they are to come talk to them instead of going through a third party. This will improve Wal- Mart's efficiency and also better their communication in bettering their company.
Our Response:
We think that this is a good thing. It protects the company's value and also gets rid of the people who don't want to work and make the company better. It will also better communication skills which is imperative to the operation of any business.